New Oregon Law Imposes Moratorium on Foreclosures and Notice Requirements on Lenders

Snell & Wilmer

Snell & WilmerOregon lawmakers held a three-day special legislative session in June during which they tackled, among other issues, legislation aimed at relief for both consumers and businesses impacted financially by the COVID-19 crisis. Along with extending the state’s moratorium on residential and commercial evictions through September 30, 2020, Oregon Governor Kate Brown also signed into law Oregon HB 4204, companion legislation to the moratorium on evictions, which prohibits lenders from pursuing foreclosures with respect to both residential and commercial real property through September 30, 2020. However, the moratorium could last longer if the governor takes action to extend the emergency period not later than 30 days prior to the current expiration date.

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